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No your data is not stored in the cloud - although you have an option to turn that feature on. Your data is still stored on your local drive (make sure you take backups!!).

The real answer depends on how you define "cloud" and what features of Quicken you use? If data is stored on a third-party server that I have no direct access to and no control over, I consider it to be stored in the cloud. If you use a web browser to download your transactions from a financial institution and then import the transactions into Quicken, you avoid having data stored in the cloud unless you also use Quicken Mobile.

If you use Quicken to download transactions from bank and credit unions, that data will be, generally, stored in the cloud unless the bank or credit union implements what Quicken calls the Direct Connect access method. Direct Connect is primarily used by brokerage firms.

If you use Quicken's Bill Pay features, you will definitely have data stored in the cloud based on my definition of a cloud.

NOTE: All transactions collected by Quicken servers are transferred to and stored on your system running the Quicken application. This is the way Quicken has worked for the last 30+ years.
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